Disc Medicine (NASDAQ:IRON) Director Kevin Bitterman Sells 1,689 Shares

Disc Medicine, Inc. (NASDAQ:IRON) Director Kevin Bitterman sold 1,689 shares of the company’s stock in a transaction on Friday, September 4th. The shares were sold at an average price of $79.96, for a total value of $135,052.44. Following the transaction, the director directly owned 13,427 shares in the company, valued at $1,073,622.92. The trade was a 11.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Kevin Bitterman also recently made the following trade(s):

• On Thursday, September 3rd, Kevin Bitterman sold 5,203 shares of Disc Medicine stock. The stock was sold at an average price of $79.98, for a total value of $416,135.94.
• On Wednesday, September 2nd, Kevin Bitterman sold 49,164 shares of Disc Medicine stock. The shares were sold at an average price of $80.17, for a total value of $3,941,477.88.
• On Tuesday, September 1st, Kevin Bitterman sold 129 shares of Disc Medicine stock. The shares were sold at an average price of $79.95, for a total value of $10,313.55.

Disc Medicine Price Performance

NASDAQ IRON opened at $76.51 on Thursday. The company has a 50 day simple moving average of $77.96 and a 200-day simple moving average of $70.76. The company has a debt-to-equity ratio of 0.09, a current ratio of 24.14 and a quick ratio of 24.14. The firm has a market capitalization of $293.03 million, a price-to-earnings ratio of -11.63 and a beta of 0.97. Disc Medicine, Inc. has a 52-week low of $40.00 and a 52-week high of $99.50.

Disc Medicine (NASDAQ:IRON) last announced its quarterly earnings data on Thursday, July 30th. The company reported ($1.54) EPS for the quarter, beating analysts’ consensus estimates of ($1.71) by $0.17. Equities research analysts predict that Disc Medicine, Inc. will post -6.61 earnings per share for the current fiscal year.

Institutional Trading of Disc Medicine

Several large investors have recently made changes to their positions in the stock. State of Wyoming acquired a new stake in Disc Medicine in the 2nd quarter worth approximately $25,000. ANTIPODES PARTNERS Ltd acquired a new position in Disc Medicine during the fourth quarter valued at approximately $33,000. Allworth Financial LP acquired a new position in Disc Medicine during the second quarter valued at approximately $46,000. Nykredit A S bought a new position in shares of Disc Medicine in the second quarter valued at approximately $103,000. Finally, Persistent Asset Partners Ltd bought a new position in shares of Disc Medicine in the fourth quarter valued at approximately $141,000. Institutional investors own 83.70% of the company’s stock.

Analyst Upgrades and Downgrades

IRON has been the subject of several recent research reports. Wedbush increased their price objective on Disc Medicine from $88.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, September 2nd. Morgan Stanley reaffirmed an “overweight” rating and issued a $90.00 target price on shares of Disc Medicine in a research report on Monday, August 17th. Wall Street Zen downgraded Disc Medicine from a “hold” rating to a “sell” rating in a research note on Saturday, August 29th. BMO Capital Markets reiterated an “outperform” rating on shares of Disc Medicine in a report on Thursday. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Disc Medicine in a research note on Tuesday, September 1st. Eleven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $107.70.

Disc Medicine Company Profile

Disc Medicine, Inc (NASDAQ: IRON) is a clinical-stage biotechnology company focused on discovering and developing precision medicines that restore normal cellular function in severe genetic and acquired diseases. The company employs a chemistry-driven approach to identify small molecules that selectively modulate RNA-binding proteins or splicing regulatory pathways. By leveraging proprietary screening and medicinal chemistry platforms, Disc Medicine aims to address diseases with high unmet medical needs and limited treatment options.

The company’s pipeline is anchored by lead programs targeting neuromuscular and hematological disorders.